Revelation 6:5,6 NCV When the Lamb opened the third seal, I heard the third living creature say, "Come!" I looked, and there before me was a black horse, and its rider held a pair of scales in his hand. Then I heard something that sounded like a voice coming from the middle of the four living creatures. The voice said, "A quart of wheat for a day's pay, and three quarts of barley for a day's pay, and do not damage the olive oil and wine!"
The Dow Jones Industrial Average (DJIA) snapped a six day streak of major losses with a huge gain in Wednesday, finishing more than 600 points higher than Tuesday’s close.
The index ended the day at 16,285.51, up 619.07 points or an increase of 3.96%. The Standard & Poor’s 500 was 3.9% higher at 1,940.51 (up 72.90 points) and the NASDAQ was up 191.05 points, or 4.24%, to finish at 4,697.54.
The market actions also caused the policymaker for the federal reserve, William Dudley, to quietly backtrack on indications that an interest rate increase would be coming in September. Dudley now is implying the rate is likely to increase in October.
The markets around the world were mixed, with Europe down Wednesday after increasing on Tuesday and China’s Shanghai exchange finishing 1.3% lower on a day of erratic trading.
Analysts are trying to play up what they call good economic news for the U.S. as an indicator a Chinese downturn will not impact the overall economy. The Commerce Department announced orders for durable goods increased 2% in July and that consumer confidence and new home sales were also up during the month.
“People need to see that the U.S. economy is still okay and that China is not going to fall apart,” said Keith Lerner, chief market strategist for SunTrust, told the Washington Post.
The market losses have been crushing to most Americans who have invested in stocks. Collectively, over $2.1 trillion in value was lost during the six day market decline, and it brought the largest selloff in 75 years.
If Monday’s dramatic losses were a sign of God’s disfavor, are the subsequent gains a sign of God’s favor? Or is there another way to understand these ups and downs on the market? Could they just be the market reacting to governmental policies and various economies around the world?